The Federal Reserve governor leading the central bank’s effort to tighten financial regulation has a decision to make as its governing board is reshaped: Should he stay or should he go?

Overshadowed by speculation about the next Fed chairman is the question of how that appointment will affect the work of Daniel Tarullo, the Fed governor in charge of bank supervision. While Tarullo hasn’t disclosed his plans, he is in the middle of work on pending rules that may take at least two years to complete. The 60-year-old Georgetown University law professor declined through Fed spokeswoman Barbara Hagenbaugh to comment.

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